Trend is firm bullish

DJ Resistance:  24,534.04  All-time high
                         
DJ Support:      23,950
                           23,690       20 Days moving average
                           23,600
                           23,500       Gap
                           23,480       Gap
                           23,285       50 Days moving average
                           23,250       Strong
                           23,174       Gap
                           23,002       Strong, gap
                           22,890
                           22,795
                           22,420       Strong, breakout
                           22,119
                           22,000
                           21,912
                           21,774       200 Days moving average
                           21,600       Strong
                           21,535       July peak
                           21,200
                           21,115
                           20,800
                           20,590
                           20,400       Strong
                           20,125       January peak
                           19,732
                           19,672       January low

Technical Analysis:
In the short term it is necessary a consolidation phase because is overbought. In the long run the trend is firmly bullish.
DJIA last target at DJ23,950 has been achieved and has done a new record high at DJ24,534.04.
Supports for the short term are not easy to identify because the index is in uncharted territory, DJ23,600 should act as a strong support.
DJIA and S&P are over its 20 days moving average which is positive and bullish.
S&P support is in the area of SP2,600.

Please click over the charts to enlarge them>

Fundamentals:
The market pulled down in the last three days but it got a new record high on Monday. It is healthy to consolidate and rest.
The recent economic news were a little disappointed but not negative for the economy:
PMI Services Index at 54.5 from last month 55.3
ISM Non-Manufacturing Index at 57.4 from last month 60.1
Redbook 3% year to year rate of change, last month it was 4.8%.
This Friday we will get the unemployment rate and non-farm payroll and the spending bill to avoid the shutdown of the government. These will put traders cautious and in the geopolitics the chatters of President Trump will recognize Jerusalem as the Israel capital and the move of the U.S.Embassy to the city.

Dear traders and investors, I find healthy the market pull back and a possible consolidation phase, we are in uncharted territory. The economy and the corporations with a solid consumption are doing well. I still expect a Christmas rally for the end of the year.

Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises